Desjardins Forecasts Strong Price Appreciation for National Bank of Canada (TSE:NA) Stock

National Bank of Canada (TSE:NA) had its price target upped by analysts at Desjardins from C$167.00 to C$175.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Desjardins’ price target indicates a potential upside of 2.48% from the stock’s previous close.

Several other research firms also recently commented on NA. Royal Bank Of Canada lowered their price objective on shares of National Bank of Canada from C$152.00 to C$148.00 and set a “sector perform” rating for the company in a research note on Thursday, August 28th. CIBC raised their target price on National Bank of Canada from C$154.00 to C$166.00 in a research note on Wednesday, November 19th. Scotiabank boosted their price target on National Bank of Canada from C$159.00 to C$166.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. TD Securities increased their price objective on National Bank of Canada from C$148.00 to C$161.00 in a report on Monday, November 10th. Finally, Raymond James Financial set a C$168.00 price objective on National Bank of Canada and gave the stock a “market perform” rating in a research note on Tuesday, November 25th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$161.50.

National Bank of Canada Stock Performance

Shares of NA stock opened at C$170.76 on Thursday. National Bank of Canada has a fifty-two week low of C$106.67 and a fifty-two week high of C$175.99. The firm has a market capitalization of C$66.65 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 7.14 and a beta of 1.13. The stock’s 50-day simple moving average is C$157.74 and its 200-day simple moving average is C$147.67.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, December 3rd. The financial services provider reported C$2.82 EPS for the quarter. The company had revenue of C$3.70 billion during the quarter. National Bank of Canada had a net margin of 19.69% and a return on equity of 15.43%. As a group, equities analysts forecast that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Company Profile

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.